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Lamassu: 100th Bitcoin ATM Operational

The Bitcoin ATM vendor Lamassu has announced the successful launch of its 100th Bitcoin ATM thanks to installations in Finland and Indonesia.

Lamassu first began taking pre-orders for the machines in August of 2013 and in April of this year, Lamassu CEO Zach Harvey told the Coin Summit conference held in San Francisco that more than 220 orders had been placed for the machines. This month's announcement that the 100th machine is now operational represents less than 50% of pre-orders having made it to market despite more than a year passing since pre-orders first began. Pre-order sales are often used to conflate the success of a product.

Many operators who had hoped to turn a profit from facilitating the buying and selling of bitcoin via the Lamassu machine have also run into regulatory problems. This is likely what prompted Lamassu to enter into a relationship with IdentityMind Global, a company that provides an AML/KYC and compliance platform.

Whether that relationship will result in Lamassu and operators achieving a strike rate above 50% remains to be seen.